Retirement Planning

April 2016

The impact of further pension changes on the horizon from this April

By |April 15th, 2016|

Pensions have been transformed by the arrival of freedom reforms on 6 April 2015 which now give much greater flexibility over what you can do with your pension pot. The new freedoms mean you can enjoy far greater choice on how you spend and generate an income from your pensions, but with further changes on the […]

Income matters

By |April 12th, 2016|

Facing retirement with an annual income shortfall of £12,600!
The UK’s mass affluent investors face an average annual income shortfall of £12,610 in retirement. This jumps to a staggering £28,000 shortfall among the mass affluent millennial population, according to the BlackRock Investor Pulse survey.

Nearly three quarters (73%) of mass affluent Britons say it’s important for them […]

February 2016

Pension credit

By |February 15th, 2016|

Cuts for people who go abroad for over a month
People who go abroad for over a month will no longer be eligible for pension credit. At present, housing benefit and pension credit recipients can go abroad for up to 13 weeks while continuing to receive payouts.

The spending review says: ‘The benefit system should not subsidise […]

5 steps to a brighter retirement

By |February 9th, 2016|

Concerned about the financial aspects of retirement planning?
With all the talk and concern about dwindling retirement funds and our shaky economy, many retirees and soon-to-be-retired boomers are concerned about the financial aspects of retirement planning. These are 5 steps to give you a brighter retirement.

1. From 6 April 2015, on reaching the age of 55 you can […]

Retirement

By |February 3rd, 2016|

Consolidating pensions
Most people, during their career, accumulate a number of different pension plans. Keeping your pension savings in a number of different plans may result in lost investment opportunities and unnecessary exposure to risk. However, not all consolidation of pensions will be in your best interests. You should always look carefully into the possible benefits […]

January 2016

Retirement matters

By |January 21st, 2016|

Pension changes you need to know
Chancellor George Osborne delivered his Spending Review and Autumn Statement on Wednesday 25 November 2015. For the first time in this Parliament, he did not announce any further radical changes to the private pensions system, giving the Treasury more time to digest the Green Paper consultation from the summer Budget.

However, […]

Pension tax relief

By |January 8th, 2016|

New tapered annual allowance for high earners
The pension tax relief system is about to be reinvented. The Government announced in the Summer 2015 Budget their intention to cut pensions tax relief for high earners by introducing a tapered annual allowance from 6 April 2016 for individuals with income (including the value of any pension contributions) […]

December 2015

Financial decisions

By |December 22nd, 2015|

Flexibility to use your pension pot in the way that suits your needs
Financial decisions are some what very important, some more important than others and of those being adequate financial provision for retirement.  However sometimes for some people this can be a daunting topic and the options they find that they have can be sometimes […]

Retirees will be able to sell their annuities from April 2017

By |December 18th, 2015|

 

Existing pensioners will be able to from April 2017 sell their pension pots for a lump sum.

According to the Daily Mail the government have announced that over five million people  will be able to turn their pensions pots into a cash lump sum from April 2017.

Instead of receiving their monthly payments from a savings pot […]

Funding retirement

By |December 11th, 2015|

Funding for your retirement is important, more people are living longer however retiring on smaller pension pots which will not last forever. However many people find it difficult to fund for their retirement or just simply do not know where to start in doing so. We at Hutt Professional have financial advisers with many years […]